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FinCEN Hits Capital One For $390 Million; Says Bank Violated Bank Secrecy Act

PYMNTS

15) announced that it is assessing a $390 million penalty against Capital One for engaging in what it says are “both willful and negligent violations” of the Bank Secrecy Act (BSA). According to a statement from FinCEN , Capital One admitted to failing to implement and maintain an effective anti-money laundering (AML) program.

Capital 268
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Q1 2019: US credit card issuer snapshot

Accenture

Credit card volume and receivables continue to grow amongst the top issuing banks for the first quarter of 2019; however, the growth rate of each has been slowing compared to prior years. Chase, Capital One and Synchrony continue to lead issuers with purchase volume growth of over 8 percent YoY?. Issuer scorecard ($billions)—Q1 2019.

Cards 208
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Weekly Wrap: Brex ramps up brand strategy, while Chase focuses on data security

Bank Innovation

Welcome to the latest episode of our weekly wrap video series, for the week ending Friday, December 13, 2019.

Strategy 243
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2019: Big Payment, Commerce And Tech IPOs Loom On The Horizon

PYMNTS

A robust supply of private capital reportedly is one of the main reasons for that, along with corporate cultures that are averse to public markets. But relatively high stock prices and access to more capital remain prime temptations, and there is little doubt that 2019 will bring more than few exciting — and telling — IPOs.

Payments 223
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In 2019, Mobilize The Commercial Card: JPMorgan

PYMNTS

Recent Capital One research also uncovered how sluggish mobile payments adoption has been in the corporate setting. We think 2019 will be a crucial year for this sector. ” Enhancing Security. “An added benefit to using commercial cards in mobile wallets is security and protection of card numbers. ”

Mobile 211
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Zopa Secures UK Banking License

PYMNTS

Zopa received those funds from a group linked to IAG Capital Partners, a U.S.-based Since COVID-19, non-bank lenders have been hurting as capital markets became less available and retail investors tried to withdraw their cash from the P2P sector, the Times reported. Capital One was one of the earlier disrupters,” Janardana said.

Security 215
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The State of Cryptocurrency in 2019

Bank Innovation

Over the past 12 months, Bitcoin – the most popular cryptocurrency – lost more than 70% of its market capitalization and Ethereum lost more than 80% of its value, according to digital currency exchange Coinbase. It was a tough year for cryptocurrencies.